Notice of McDill Lake District Special Voters Meeting
Monday June 28, 6:00 pm Koczikowski Park Shelter Area – bring a lawnchair
- Review of financing options available for fixed all years vs fixed five years from various lenders
- Review of funding options, discussion, and possible action to approve funding of dredging project via borrowing.
- Review, discussion and possible action to approve offer of early payment in full option to residents to bring interest costs down
Background: McDill Lake District approved at the June 3rd meeting to move forward with a dredging project in 2021. While the 1 Million project had the most votes for the size of dredge to approve, the 721,000 dredge also came in 2nd for votes. The difference between the dredges is 64,000 cubic yards vs 39,000 cubic yards. We are looking into finance options of both fixed rate for 5 years or fixed rate all of years loans, along with different loan timeframes. This meeting will be to discuss and review the different options, and approve the option for financing via a vote by the lake district membership. Please bring a lawnchair and pen for voting.